Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion.Open interest rates and addresses holding more than 1 BTC increased.finally broke above its range and retested the $30k price zone. BTC has been trading within the $26.8k – $28.8k range, setting the altcoin market into varying price consolidation and short pullbacks.Despite being a holiday, the US Labor Department issued the jobs report on 7 April.
BTC could attempt to retest the $31.4k resistance level if the bullish sentiment remains. The next likely range target is $31.4k – 32.6k. A close above $32k could face negligible resistance, as the drop in May 2022 didn’t face any obstacles. But the first sign of weakness will be a break below $28.5k. A stronger weakening could occur if BTC falls below the 20 EMA of $27.97k and the previous range lower boundary of $26.8k.
Meanwhile, the RSI retreated but was back into the overbought level – buying pressure dipped but improved afterward. But the OBV chalked a sideways movement, indicating the fluctuating volumes in the past few days.
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